Gold ideas for the day
Gold ideas for the day
Yesterday we saw the NY SL take out below 1922 then retracement 1927 and then further continuation down a little further than expected but in line with looking left.
Active movement continued later than normal into the evening in line with positioning for today’s big news events and CPI.
Trend line
Momentum is clearly showing a trendline down and followed nicely by price action.
This will continue to possibly 1922 trend line consolidation or 1927 1932 or order block before the news.
ICT
Showing small gaps up left behind around the 1950 and 1929
No recent gaps down
Massive bullish order block from 1927 to 1902
Bearish order block 1932 -1938
Psychology Factor
We have seen all week bearish movement in line with market predictions in some cases.
Big money have us thinking Bearish
Big money have done this the last few times and push a big movement in opposite direction taking out all the sell SL above.
If you see a big money player moving the market 5-10 min before news in one direction 5min chart and in a very organised fashion, positively it usually goes the opposite way, but not always
Conclusion
At the news first big stop hunt then,
This should then be a big movement down closing 1902 and below.
However, if fed not looking to put interest rates up this will weaken the DX and it is possible a big SL take out below then strong and continuous surge up to 1950 close gap up and possible to 1972
With this in mind I will be watching and picking up any opportunities in the aftermath
Overall I will take the view it will go up, but, it should go down !!
Take big care today!
Trade safe
This not designed to be financial advice in any way just sharing views in an open and honest way.
Yesterday we saw the NY SL take out below 1922 then retracement 1927 and then further continuation down a little further than expected but in line with looking left.
Active movement continued later than normal into the evening in line with positioning for today’s big news events and CPI.
Trend line
Momentum is clearly showing a trendline down and followed nicely by price action.
This will continue to possibly 1922 trend line consolidation or 1927 1932 or order block before the news.
ICT
Showing small gaps up left behind around the 1950 and 1929
No recent gaps down
Massive bullish order block from 1927 to 1902
Bearish order block 1932 -1938
Psychology Factor
We have seen all week bearish movement in line with market predictions in some cases.
Big money have us thinking Bearish
Big money have done this the last few times and push a big movement in opposite direction taking out all the sell SL above.
If you see a big money player moving the market 5-10 min before news in one direction 5min chart and in a very organised fashion, positively it usually goes the opposite way, but not always
Conclusion
At the news first big stop hunt then,
This should then be a big movement down closing 1902 and below.
However, if fed not looking to put interest rates up this will weaken the DX and it is possible a big SL take out below then strong and continuous surge up to 1950 close gap up and possible to 1972
With this in mind I will be watching and picking up any opportunities in the aftermath
Overall I will take the view it will go up, but, it should go down !!
Take big care today!
Trade safe
This not designed to be financial advice in any way just sharing views in an open and honest way.
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